XAU Trading Outlook (17-08-2015)

GOLD

Pivot: 1112

Likely scenario: Long positions above 1112 with targets @ 1121 & 1127 in extension.

Alternative scenario: Below 1112 look for further downside with 1102 & 1093.7 as targets.

Comment: A support base at 1112 has formed and has allowed for a temporary stabilisation.

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